Indian equity benchmark indices opened with a positive bias on Monday with Nifty around 15,800. Investors also eyed weakness in US stock futures and China's industrial output data.

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NSE

At 09:16 am, the 30-scrip Sensex was up 78.13 points or 0.15 percent at 52,871.75, and the broader Nifty was up 14.10 points or 0.09 percent at 15,796.30.

About 1,545 shares have advanced, 479 shares declined, and 91 shares are unchanged.

Eicher Motors, JSW Steel, Maruti Suzuki, Titan Company and Tata Steel were among major gainers on the Nifty.

UltraTech Cement, Shree Cements, Tech Mahindra, NTPC and Power Grid Corp were among the major laggards.

The broader markets were in red. The BSE MidCap and SmallCap indices were up to 0.2 percent lower.

Amid the sectoral indices, metals, auto, realty, energy and PSBs gained the most on Nifty, up 1-2 percent while pharma and FMCG were in the red.

Macroeconomic data from the US, UK and India will be in focus this week, along with the last leg of fourth-quarter earnings.

The wholesale price index (WPI) reading for April will be closely monitored on Tuesday, after retail inflation for the month came to an eight-year high of 7.8 per cent.

Ambuja Cements and ACC rose 3 percent and 7 percent, respectively, after the Adani Group on Sunday entered into definitive agreements to acquire Swiss cement major Holcim's stake in Ambuja and ACC, in a $10.5 billion deal.

Global Markets

Asian markets gained on Friday with Hang Seng and Nikkei rising 0.9 and 1.2 percent, respectively. The oil prices also rose around 4 percent today as China looks to ease Covid-19 restrictions. Brent crude and WTI futures closed at $111.55 and $110.49 a barrel.

US stocks posted a relief rally on Friday. The Dow rose 1.47 percent, the S&P 500 gained 2.39 percent and the Nasdaq advanced 3.82 percent.

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